MSA Safety Incorporporated (NYSE:MSA) Announces Earnings Results

MSA Safety Incorporporated (NYSE:MSA) issued its quarterly earnings results on Monday. The industrial products company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14, FiscalAI reports. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.77%. The business had revenue of $463.63 million for the quarter, compared to analysts’ expectations of $451.28 million. During the same quarter in the prior year, the firm posted $1.68 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year.

MSA Safety Incorporporated Stock Up 1.7%

MSA stock traded up $2.93 during mid-day trading on Wednesday, reaching $171.80. 40,188 shares of the company traded hands, compared to its average volume of 223,811. The company has a quick ratio of 1.82, a current ratio of 3.01 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average price is $175.61 and its 200 day moving average price is $172.12. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 23.23 and a beta of 0.97. MSA Safety Incorporporated has a fifty-two week low of $151.10 and a fifty-two week high of $208.92.

MSA Safety Incorporporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from MSA Safety Incorporporated’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 15th. MSA Safety Incorporporated’s payout ratio is 29.94%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MSA. National Bank Financial set a $235.00 price objective on MSA Safety Incorporporated in a research note on Wednesday, February 18th. Wall Street Zen downgraded MSA Safety Incorporporated from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Jefferies Financial Group reissued a “hold” rating and issued a $180.00 price target (down from $200.00) on shares of MSA Safety Incorporporated in a research note on Tuesday, March 31st. Robert W. Baird set a $197.00 price target on MSA Safety Incorporporated in a report on Wednesday. Finally, DA Davidson raised their price objective on shares of MSA Safety Incorporporated from $186.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $204.83.

Insider Activity at MSA Safety Incorporporated

In other news, CAO Jonathan D. Buck sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $203.48, for a total value of $223,828.00. Following the transaction, the chief accounting officer owned 3,234 shares in the company, valued at $658,054.32. This trade represents a 25.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MSA Safety Incorporporated

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ruane Cunniff & Goldfarb L.P. bought a new position in MSA Safety Incorporporated during the 2nd quarter valued at $158,997,000. Dimensional Fund Advisors LP grew its stake in shares of MSA Safety Incorporporated by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 764,663 shares of the industrial products company’s stock worth $122,460,000 after acquiring an additional 9,915 shares in the last quarter. M&G PLC raised its holdings in shares of MSA Safety Incorporporated by 0.7% in the fourth quarter. M&G PLC now owns 728,727 shares of the industrial products company’s stock valued at $116,596,000 after purchasing an additional 4,899 shares during the last quarter. First Trust Advisors LP lifted its position in shares of MSA Safety Incorporporated by 1.6% during the fourth quarter. First Trust Advisors LP now owns 626,862 shares of the industrial products company’s stock valued at $100,386,000 after purchasing an additional 10,172 shares in the last quarter. Finally, Channing Capital Management LLC lifted its position in shares of MSA Safety Incorporporated by 22.7% during the fourth quarter. Channing Capital Management LLC now owns 626,153 shares of the industrial products company’s stock valued at $100,272,000 after purchasing an additional 115,788 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

MSA Safety Incorporporated declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

MSA Safety Incorporporated Company Profile

MSA Safety Incorporated develops, manufactures and supplies a wide range of safety products designed to protect workers in hazardous environments. The company’s offerings span personal protective equipment such as industrial helmets, face shields, protective clothing and fall protection devices, as well as fixed and portable gas detection and monitoring systems. MSA’s products are used in industries including oil and gas, mining, construction, fire service, and chemical processing to guard against risks such as gas leaks, impacts, flame exposure and falls from height.

Key product lines include self-contained breathing apparatus (SCBA) and air-purifying respirators, gas detectors and sensors, head and face protection, and fall arrest systems.